a bit of fun, pog for 2014, page-68

Hi Pythagerous,

Gold will continue its downward path, too much bad sentiment and investor psychology is shot to pieces.

Punters are rotating out of gold into more profitable trades, central banks are sitting on their hands, chinese and indian buying will wane after getting their fingers burned, there's lots of downward momentum, improving world economy, taper and upward USD.

All spells very bad news for gold which will eventually return to the mean, which I reckon is somewhere around $700.

Goldbugs reckon that gold cannot fall below the cost of production, but why not? It doesn't get consumed, all that will happen is mines will go into care and maintenance.

This has got a way to go yet.